Perth Emporium is a gift shop situated in a small fishing village. The business carries a range of merchandise that it accounts for under the perpetual method. Cost is assigned using the FIFO cost formula. All purchases are on FOB shipping terms, with 30 days credit. The end of the reporting period is 30 June. The following information lists the transactions during October 2019 for one item of inventories (wall plaques): Date Oct. 1 4 Number Unit cost 46 6.70 48 6.50 60 75 7.10 11 7.10 8 Detail Opening balance Purchase Sale Purchase Purchase return Sale Sale return (on 19 Oct. sale) Purchase 11 14 74 19 24 5 41 28 6.60 For the inventories item (wall plaques), calculate October's cost of sales expense and the cost of inventories on hand at 31 October 2019. (Enter your answers to the nearest cent.) October's cost of sales expense Cost of inventories on hand at 31 October 2019 $